12:15-13:45, Tuesday, May 28, 2013
Ryuzo Miyao, Member of the Policy Board, BoJ
Under the leadership of Gov. Haruhiko Kuroda, the Bank of Japan has taken on what some call an audacious task of pushing up the country's inflation rate from just under zero to 2% in about two years.
In order to hit the target, the central bank's nine-member board decided last month to double the monetary base and boost its holdings of Japanese government bonds to even higher levels than now. The decision has been hailed by ruling party politicians but also criticized by some economists as a back-door way to finance the government's massive budget deficits.
Board member Ryuzo Miyao, a former economics professor, will come to the club and deliver a speech on a timely topic of "Central Banking Further into Uncharted Territory." (tentative title)